Inflation will remain high
Many US banks, including the large ones, are in financial trouble. They have lent a few trillion dollars in 30 year mortgages at fixed interest rates of 3% or less. Based on the current high interest rates, the value of their mortgages could have fallen by 30% or more. The loss is staggering. The banks are able to mark these...
They promise us the moon and the stars but…
PM-in-waiting Lawrence Wong You could get heady just listening to all the election-worthy pledges and promises making the rounds as May Day messages. Deputy Prime Minister Lawrence Wong told workers at the May Day rally: “Come what may, we will always be there with you, for you, and we will always have your back.” The government,...
China will trade with other countries in local currencies
I share my views about the next stage in de-dollarization, i.e. countries with trade with each other using their own currencies instead of the USD. Several oil producers already agreed to sell oil to China in Chinese yuan (CNY). They can keep the CNY and use them to buy products from China in CNY. If they have excess CNY, they...
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